Stock market today: The domestic equity market will likely open in the red on Monday, March 10.
At 7:46 AM, the GIFT NIFTY futures were trading at 22,596, down 63.50 points, or 0.28%. This suggests that the NIFTY index will open 54 points lower today.
On the global front, Wall Street futures sank, and the safe-haven yen and Swiss franc strengthened early Monday as building deflationary pressures in China added to growth worries from a fading US economy and an escalating global trade war.
Data on Sunday showed China's Reuters reported on Sunday that fell at the sharpest pace in 13 months in February, while producer price deflation extended to a 30th straight month, Reuters reported.
Here is a list of stocks that may remain in focus today.
Gensol Engineering: The company's promoters have sold approximately 2.37% of the total equity shares of the company, amounting to 900,000 shares, to unlock liquidity that will be reinvested into the business through equity infusion. This step is part of a strategy aimed at reinforcing the company’s balance sheet and supporting stability.
Besides, the company will consider a stock split and the proposal of raising funds at its meeting on March 13, 2025.
NMDC: The PSU's board will consider a second interim dividend for the financial year 2024-25 on Monday, March 17.
HUDCO: The company's board will meet today to consider the declaration of a second interim dividend for FY 2024-25 and the fixation of the record date.
Sun Pharma:
Sun Pharmaceutical Industries (together with its subsidiaries and/or associated companies, “Sun Pharma”) and Checkpoint Therapeutics, Inc. on Monday, March 10, announced that they have entered into an agreement by which Sun Pharma will acquire Checkpoint, an immunotherapy and targeted oncology company.
Checkpoint is a Nasdaq-listed commercial-stage company focused on developing novel treatments for patients with solid tumour cancers.
IndusInd Bank: The Reserve Bank of India (RBI) has granted only a one-year extension to Sumant Kathpalia, managing director (MD) and chief executive officer (CEO) of
IndusInd Bank.
This is despite the bank’s board requesting a three-year reappointment, per news reports.
IREDA: Shares of the company will be in focus as the company, in its exchange filing, stated that the RBI has not acceded to the company's request of making an equity investment to develop and implement a 900 MW Upper Karnali Hydro Electric Power Project in Nepal.
Nazara Technologies: The company has completed the sale of its 94.85% stake in OpenPlay Technologies Private Limited, the operator of the popular Rummy platform Classic Rummy, to Moonshine Technology Private Limited, the parent company of PokerBaazi.
HCL Infosystems: Billionaire Shiv Nadar, founder of HCL, has gifted 47% of his stake in HCL Corp and Vama Delhi to his daughter Roshni Nadar Malhotra as part of a strategic succession plan. After the transfer, Malhotra will acquire control and become a majority shareholder of Vama Delhi and HCL Corp, HCLTech said in a stock exchange filing. HCL Infosystems Ltd also made a similar filing.
RailTel:
RailTel Corporation of India said that it has received the work order from Northern Railway for an order amounting to ₹28.29 crore.
The contract is for undertaking indoor and outdoor double-distance signalling works.
The project has to be completed by September 6, 2026.
Tata Power: Tata Power Renewable Energy Ltd. (TPREL) and the Andhra Pradesh government have signed an agreement to develop up to 7 gigawatts (GW) of renewable energy projects, which will entail investments of around ₹49,000 crore.
Under this agreement, opportunities will be explored to jointly develop solar, wind, and hybrid projects with or without storage solutions, TPREL said.
The estimated investment in these projects stands at around ₹49,000 crore, making it one of the largest renewable energy investments in Andhra Pradesh.
JSW Steel: JSW Steel reported consolidated crude steel production for February at 24.07 lakh tonnes. Consolidated production was higher by 12% YoY. Capacity utilisation for February at Indian Operations was 93.5%.
Shilpa Medicare: The United States Food and Drugs Administration (USFDA) conducted an inspection at Unit-1 of Shilpa Pharma Lifesciences Limited, located at Raichur from March 3-7, 2025.
After the inspection, "we received 1 (one) observation in form 483, which is procedural. The company will closely work with the agency and remain committed to addressing this observation comprehensively within the stipulated time," the company said.
Lupin: Lupin Limited (Lupin) on Friday announced that it has launched Rivaroxaban Tablets USP, 2.5 mg, following the final approval of its Abbreviated New Drug Application from the U.S. FDA.
Rivaroxaban Tablets USP, 2.5 mg, is bioequivalent to Xarelto® Tablets, 2.5 mg of Janssen Pharmaceuticals, Inc., and indicated:
• to reduce the risk of major cardiovascular events in patients with coronary artery disease (CAD)
• to reduce the risk of major thrombotic vascular events in patients with peripheral artery disease
(PAD), including patients after recent lower extremity revascularisation due to symptomatic PAD.
Hinduja Global Solutions: The company has merged its step-down subsidiary Diversify Intelligent Staffing Solutions Inc. with another step-down subsidiary, Diversify ISS BGC Inc.
AstraZeneca Pharma has received approval from India’s regulator, the Central Drugs Standard Control Organisation (CDSCO), to import, sell, and distribute Durvalumab solutions. Durvalumab is used to treat patients with limited-stage small-cell lung cancer.
Shyam Metalics: Shyam Metalics and Energy Ltd. posted a sharp year-on-year (YoY) increase in stainless steel and aluminium foil sales for February 2025, driven by strong demand and improved realisations. However, the company noted that, per news reports, month-on-month (MoM) volumes declined across key segments due to February being a shorter trading month.
ONGC: ONGC PetroAdditions Ltd, a subsidiary of the state-owned Oil and Natural Gas Corporation (ONGC), has relinquished its 'only-for-export' unit status as it aims to tap into the booming local petrochemical market to drive a turnaround.
In a stock exchange filing, ONGC said OPaL has received the final approval for its exit from the Dahej Special Economic Zone (SEZ).
Religare Enterprises: Religare Enterprises has withdrawn its appeal at the NCLAT against a competition watchdog CCI order that allowed four Burman group entities to acquire a 5.27% stake in the financial services firm.
The move comes after the Burman family, through its investment firms, gained a controlling stake in Religare Enterprises Limited (REL) after acquiring 25.16% of equity shares through an open offer.
Infibeam Avenues: Fintech firm Infibeam Avenues Ltd.'s UAE subsidiary has reorganised its shareholding structure ahead of its listing to amplify its digital payment strategy, it said in a stock exchange filing.
The reorganisation involves transferring the mirror shareholding in Avenues World FZ-LLC to its newly incorporated Abu Dhabi entity, Infibeam Avenues ME SPV Ltd.
SpiceJet: SpiceJet is facing a fresh round of troubles as three Ireland-based aircraft lessors and a former pilot have filed insolvency pleas in NCLT against the budget carrier, claiming defaults.
Three lessors—NGF Alpha, NGF Genesis, and NGF Charlie—have filed petitions under Section 9 of IBC, seeking initiation of insolvency proceedings against SpiceJet, claiming dues totalling $12.68 million (about ₹110 crore).
SpiceJet, during the proceedings of the National Company Law Tribunal, earlier this week, sought some time to resolve the matter as settlement talks were going on.
GMR Airports: GMR Airports Ltd on Friday said it has hiked its stake in Delhi airport operator DIAL to 74% after completing the acquisition of a 10% shareholding from Germany's Fraport. Last September, the company, which is part of the GMR Group, announced entering into a share purchase agreement with Fraport AG Frankfurt Airport Services Worldwide for buying the 10% stake in Delhi International Airport Ltd. (DIAL) for $126 million.
IRB Infra: IRB Infrastructure on Friday reported an 18% year-on-year rise in toll revenue to ₹528.7 crore in February. Its revenues from the toll collection business stood at ₹462.2 crore in the same month last year, IRB said in an exchange filing.
Out of its 17 tolls, the IRB MP Expressway in Maharashtra contributed the major share of ₹140.9 crore to the total revenue collection in February, followed by the IRB Ahmedabad-Vadodara Super Express Tollway (₹63.9 crore), it added.
Coal India: State-owned CIL on Friday said it has entered into a pact with the Indian Institute of Technology, Hyderabad, to develop clean coal technologies.
Coal India Ltd. (CIL) has inked a memorandum of understanding (MoU) with the Indian Institute of Technology, Hyderabad (IIT-H)... for establishing a Centre of Clean Coal Energy and Net Zero (CLEANZ) at Hyderabad, the PSU said in a statement.
Nestle India: Market watchdog SEBI has issued a warning letter to FMCG major Nestle India over the alleged violation of insider trading norms by a senior official of the company.
Nestle India has received an "administrative warning letter" from the Securities and Exchange Board of India (SEBI) from a designated person of the company, according to a regulatory filing on Friday.
Nestle India has not disclosed the identity of the person involved in this.
Alembic Pharma: The USFDA has inspected the company's Bioequivalence Facility located at Vadodara from March 3, 2025, to March 7, 2025. The USFDA has issued a Form 483 with one procedural observation.
.png)
